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SMSF Audits 2025: Tighter Rules, Higher Stakes
Navigate complex regulatory shifts and heightened ATO scrutiny to ensure ironclad SMSF audits and protect your practice amidst evolving financial landscapes.
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2 Courses•44 Reviews
Navigate complex regulatory shifts and heightened ATO scrutiny to ensure ironclad SMSF audits and protect your practice amidst evolving financial landscapes.
This course, "SMSF Audits 2025: Tighter Rules, Higher Stakes," is essential for SMSF auditors navigating an evolving regulatory landscape. Given intensified scrutiny from the ATO and the increasing complexity of fund structures and investments, this program provides comprehensive, practical strategies to ensure compliant, efficient, and defensible audits.
The course will equip you with critical knowledge and skills across three core areas:
Core Compliance Audit Fundamentals and Updates: Delve into recent regulatory changes and superannuation updates impacting audits. Learn to conduct compliant financial audits, manage wrap accounts and third-party investment reports effectively, and identify triggers for Auditor Contravention Reports (ACRs). Topics include updated contribution caps, transfer balance cap changes, SuperStream issues, and non-arm's length expenses (NALI/NALE), alongside essential financial audit procedures and recent case law highlights.
Audit Challenges, Complex Assets, Borrowings, and ATO Scrutiny: Address the complexities of auditing unlisted investments, particularly concerning valuation and verification pitfalls. Understand SMSF borrowings and Limited Recourse Borrowing Arrangements (LRBAs), differentiating between repairs and improvements. Gain insights into the ATO's audit radar, including their focus on market valuations, high-volume audit practices, disqualified trustees, and auditor independence, preparing you to withstand regulatory review.
Audit Risk Management, Fraud Considerations, and Better Practices: Explore critical risk management strategies, including navigating SMSF audit responsibilities upon a member's death, covering trustee changes, death benefit payments, and recipient eligibility. Learn to detect digital document fraud, understanding its evolving tactics and how to implement robust asset verification procedures. Finally, discover how to leverage artificial intelligence and other technologies to streamline SMSF audit workflows for enhanced accuracy and efficiency.
By the end of this course, you will be proficient in maintaining the highest standards of audit quality, fulfilling ethical duties, and protecting the integrity of the SMSF sector amidst heightened regulatory demands.
This course includes:
